Knowing how to collect, manipulate and assess data is the cornerstone of any business today. But it’s a very different world now, and the complexity and size of the data sets that are being generated today can’t be handled using your conventional data management solutions anymore.
So, companies are now turning to or relying on the big data solutions from the Global Mobile Location-Based Services Market. They are being used primarily for storing, analyzing loads of data, in either a semi-structured or unstructured way. The kind of data that is available now ranges from patient data in standard electronic medical records, corporate data in ERPs or SCMs, CRM applications, network devices and/or sensor data, e-commerce data or business transactions.
When divided up, the data-enabled services we have today can be segmented into five main areas of application – telehealth, smart manufacturing, smart oilfield, risk analytics and finally, Mobile Location-Based Services.
This last application is the most relevant and entails those information-based services available on your smartphone and relies on the geographical locations to enhance those services.
If you’re not familiar with this – think of your Google Drive application and how it helps you to track, deliver real-time traffic updates or directions, identify routes or places, or inform you about local events based on your key interests – this is mobile LBS and this is what we’re talking about.
Manufacturers are democratizing on location, to gain insight on, or to improve the way they operate and extend their service offering into new areas or customers, using the ‘Share’ or ‘Refer’ option.
The kind of value that location data has can only be truly useful when it has been integrated with or assessed in conjunction with other data. Single data points don’t have any real value if they don’t have the larger frameworks to ground them in. Take, for example, Ola mapping systems.
These utilize a combination of the 4 kinds of digital data – smartphone sensor data, social data, GPS information, and digital mapping. Using these with advanced algorithms, the app can determine and recalculate routes even when your cab is on the go.
That was something you couldn’t do with the older GPS systems that only used digital mapping and readily available GPS information.
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